BMNR inventory is up 4.3% at this time, even because it stays down greater than 21% over the previous 5 days, largely following Ethereum’s 12% slide this week. With This fall earnings set for November 21, early power within the BMNR worth has raised the query of whether or not the inventory is positioning itself forward of the market, once more.
The final time this occurred, BMNR moved a lot sooner than Ethereum. With bottoming indicators flashing throughout crypto, merchants are watching to see if historical past is lining up as soon as extra.
BMNR Has Entrance-Run Ethereum Earlier than — And Circumstances Look Comparable
Between June 26 and July 3, Ethereum moved solely 10%. In that very same interval, BitMine (BMNR) surged 3,993% from $3.91 to $160.10. It’s price noting that the Q3 outcomes got here out on July 2.
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SponsoredBitMine Historic Chart: TradingView
Solely after BMNR’s explosion did Ethereum start its actual run, rallying greater than 100% from early July to late August. BMNR had clearly priced within the transfer earlier, exhibiting a sample of reacting to expectations somewhat than the transfer itself.
Now, with a number of bottoming alerts forming throughout Bitcoin and Ethereum, merchants are asking whether or not BMNR is once more sensing a shift underneath the floor. The inventory is stabilizing proper earlier than earnings — the identical timing as its July conduct — whereas the broader crypto market is making an attempt to kind a base.
This brings us to what BMNR’s personal indicators are signaling.
Divergence Nonetheless Helps the Uptrend, however Quantity Should Verify the Breakout
RSI (Relative Power Index) measures worth momentum. Between June 27 and November 17, BMNR made a better low, whereas RSI made a decrease low. That’s hidden bullish divergence, which seems in belongings that stay in long-term uptrends even throughout robust pullbacks.
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RSI has additionally bounced from oversold situations, giving BMNR a steadier base forward of the earnings name.
$BMNR reporting earnings on Friday earlier than the bell
Prediction: they provide an replace on staking having both already begun or present a timeline.
1. When will staking begin
2. What’s going to they do with the proceeds (DRIP into $ETH or paid out to holders)
Both means, I will cowl it… pic.twitter.com/LXNp2GihXE
— Tevis (@FunOfInvesting) November 18, 2025
However the actual affirmation nonetheless rests with On-Steadiness Quantity (OBV). OBV provides quantity on up days and subtracts quantity on down days to point out who controls the market.
Here’s what issues now:
- OBV stays beneath a descending pattern line, which has capped each try at restoration.
- OBV is now curling upward because the end result date approaches.
- A break above this OBV pattern line is the technical set off that normally results in giant strikes in BMNR.
There may be additionally a long-term OBV divergence on the chart.
From September 5 to November 17, the BMNR worth made a decrease low, however the OBV made a better low. That is usually an indication that vendor strain is fading within the background, even when the worth hasn’t reacted but.
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If OBV breaks out, BMNR’s correlation with Ethereum strengthens — because it did earlier than the July rally.
Key BMNR Worth Ranges To Observe Now
BMNR has held $30 as main help since early August. The inventory’s present stabilization reveals this degree continues to be lively.
If $30 holds:
- BMNR can push towards $39 first.
- A break above $43 opens a path to $52-$58.
- A full extension towards $65 (a achieve of over 100%) turns into life like if Ethereum picks up even a modest rebound.
Yet another constructive sign seems on the CMF. The Chaikin Cash Movement tracks inflows and outflows utilizing worth and quantity. CMF has now damaged above its descending pattern line, which implies inflows are rising once more proper earlier than the end result date. This doesn’t affirm a breakout by itself, but it surely strengthens the case that consumers are returning on the proper time.
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This aligns with Donald Dean’s NAV mannequin.
$BMNR BitMine Immersion, 3.0% of ETH Provide – Up to date Targets, New Web Asset Worth (mNAV) Calculations
NAV Targets at 1.6x:
$4,000 ETH = $71.10 BMNR
$5,000 ETH = $88.06 BMNR
$6,000 ETH = $105.02 BMNR
Within the downtrend, close to help from August. BMNR would want to get above $37… pic.twitter.com/AcPoHgIDS0
— Donald Dean (@donaldjdean) November 17, 2025
Dean makes use of a NAV a number of the place BMNR’s worth tracks ETH possession and money reserves.
He estimates the inventory’s upside utilizing ETH’s proportion strikes. Because of this if Ethereum rebounds 10%, BMNR’s truthful worth underneath Dean’s mannequin strikes nicely above the present vary, putting the inventory nearer to its greater extensions. That’s near $65, per the chart.
However the mannequin additionally works in reverse.
If Ethereum drops once more:
- BMNR’s NAV compresses shortly.
- Dropping $30 would expose the inventory to even $25.
So the following transfer relies on two issues: OBV breakout and Ethereum worth course. If each align close to the earnings launch, the BMNR worth might as soon as once more outpace the crypto market.
